According to a new report by Reports and Data, the Synthetic Biology Applications Market size was valued at USD 9.26 Billion in 2021 and is estimated to exceed USD 75.9 Billion in terms of revenue, at a CAGR of 26.3% through 2030. The market growth is driven by declining cost of DNA sequencing and synthesizing coupled with increasing RD investment in drug discovery.
Products produced by Synthetic Biology Applications are used across several applications, including energy, bioplastics environment, and pharmaceutical diagnostics. Synthetic Biology Applications is mainly known for the usage of molecular biology along with standard industrial fermentation for the production of renewable, sustainable, algal oils that would reduce the pressure on the ecosystem due to habitat damage and deforestation.
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Further key findings from the report suggest
- The penetration rate is high due to its widespread use in RD and commercialization than any other product segments.
- Based on product type, the synthetic oligos segment is expected to deliver a CAGR of 26.3% through 2030. The method is most preferred in modern laboratory practice as it offers accelerated and reasonable access to custom-made oligonucleotides of the desired sequence.
- The synthetic DNA product segment is expected to observe a CAGR of 19.0% during the forecast period.
- Based on technology, the genome engineering segment accounted for 22.6% of the global Synthetic Biology Applications market share in 2020 and is expected to gain major traction through 2030. Advancements in DNA synthesis technologies, CRISPR-toolbox, the ongoing research activities, and growing need for cost-effective, rapid, multiplex alteration of genomes, are the key factors driving segmental growth.
- Based on application, the healthcare segment is expected to observe notable growth during the forecast period. Some of the possible application of Synthetic Biology Applications in health and food include regenerative medicine, reprogramming of stem cells, new therapeutic methods, and efficient production of nutraceuticals like food supplements, preservatives, and vitamins.
- The pharmaceuticals and diagnostics segment is forecast to showcase at a CAGR of 26.3% during the forecast period.
- In the regional landscape, Europe accounted for 28.2% of the market share in 2020 and is estimated to make significant revenue contributions through 2030.
- North America accounted for 32.3% of the market share in 2020 and is expected to gain major traction owing to presence of key industry players, growing chronic diseases, and favorable reimbursement policies by the regional government.
Competitive Outlook of the Global Synthetic Biology Applications Market
The globla Synthetic Biology Applications market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Synthetic Biology Applications market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
Merck KGaA, Thermo Fisher, Novozymes, Eurofins Scientific, Inc., DNA2.0, Intrexon, Amyris, Pareto Biotechnologies, Agilent Technologies, GenScript, Ginkgo Bioworks, Synthetic Genomics, Integrated DNA Technologies, TeselaGen, Twist Bioscience, and New England Biolabs, among others.
Synthetic Biology Applications Market Segmentation:
Technology Outlook (Revenue, USD Billion; 2019–2030)
- Nucleotide synthesis and sequencing
- Genome engineering
- Integrated systems
- Microfluidics
- Functional genomics
Tools Outlook (Revenue, USD Billion; 2019–2030)
- Synthetic DNA and Oligonucleotides
- Enzymes
- Synthetic Cells
- Chassis Organisms
- Xeno-nucleic Acids
Application Outlook (Revenue, USD Billion; 2019–2030)
- Medical Healthcare Application
- Artificial Tissue Tissue Regeneration
- Environment Agriculture
- Bioprocess Industry
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Biotechnology Pharmaceutical Companies
- Academic Government Research Institutions
- Others
Key Regions Covered in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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